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Pharoah Service Company had checks outstanding totaling $28600 on its May bank reconciliation. In June, Pharoah issued checks totaling $178800. The June bank statement shows that $133100 in checks cleared the bank in June. A check from one of Pharoah's customers in the amount of $1300 was also returned marked "NSF" The amount of outstanding checks on Pharoah's June bank reconciliation should be O $73000. O $45700. O $17100. O $74300.

Pharoah Service Company had checks outstanding totaling $28600 on its May bank reconciliation. In June, Pharoah issued checks totaling $178800. The June bank statement shows that $133100 in checks cleared the bank in June. A check from one of Pharoah's customers in the amount of $1300 was also returned marked "NSF" The amount of outstanding checks on Pharoah's June bank reconciliation should be O $73000. O $45700. O $17100. O $74300.

College Accounting (Book Only): A Career Approach
College Accounting (Book Only): A Career Approach
13th Edition
ISBN:9781337280570
Author:Scott, Cathy J.
Publisher:Scott, Cathy J.
Chapter6: Bank Accounts, Cash Funds, And Internal Controls
Section: Chapter Questions
Problem 3E
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Pharoah Service Company had checks outstanding totaling $28600 on its May bank reconciliation. In June, Pharoah issued checks totaling $178800. The June bank statement shows that $133100 in checks cleared the bank in June. A check from one of Pharoah's customers in the amount of $1300 was also returned marked "NSF" The amount of outstanding checks on Pharoah's June bank reconciliation should be O $73000. O $45700. O $17100. O $74300
Transcribed Image Text:Pharoah Service Company had checks outstanding totaling $28600 on its May bank reconciliation. In June, Pharoah issued checks totaling $178800. The June bank statement shows that $133100 in checks cleared the bank in June. A check from one of Pharoah's customers in the amount of $1300 was also returned marked "NSF" The amount of outstanding checks on Pharoah's June bank reconciliation should be O $73000. O $45700. O $17100. O $74300
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